Bolivia is one of the countries with the largest reserves of the mineral, which is used in electric car batteries. Read more at straitstimes.com.
LA PAZ - Chinese and Russian companies will invest more than US$1.4 billion in the extraction of lithium in Bolivia, one of the countries with the largest reserves of the mineral used in electric car batteries, the government in La Paz said on Friday.
China’s Citic Guoan and Russia’s Uranium One Group - both with a major government stake - will partner with Bolivia’s state-owned YLB to build two lithium carbonate processing plants, President Luis Arce said at a public event. Lithium is often described as the “white gold” of the clean-energy revolution, a highly-coveted component of mobile phones and electric car batteries.Bolivia, which claims to have the world’s largest deposits, in January also signed an agreement with Chinese consortium CBC to build two lithium battery plants.
The country’s energy ministry said in a statement each of the two new plants would have the capacity to produce up to 25,000 metric tons of lithium carbonate per year.China and Russia are among Bolivia’s main lithium buyers.
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